Variable Overhead

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Definitions
Overhead Efficiency Variance
Overhead Efficiency Variance Standard Costing Overhead Costs Productivity Variance Efficiency Absorption Rate Fixed Overhead Variable Overhead
Overhead Efficiency Variance is an accounting concept used in standard costing systems to measure the variance in overhead costs due to the efficiency or inefficiency of actual production time compared to the standard time allocated.
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Definitions
Overhead Total Variance
Overhead Total Variance Standard Costing Fixed Overhead Variable Overhead Overabsorbed Overhead Underabsorbed Overhead
In a system of standard costing, the overhead total variance is the difference between the standard overhead recovered for actual units produced and the actual overhead incurred for a period.
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Definitions
Standard Overhead Cost
Standard Overhead Cost Standard Costing Fixed Overhead Variable Overhead Overhead Absorption Rate Production Costs Management Accounting Financial Performance
A standard cost for the fixed and/or variable overhead of an operation derived from the standard time allowed for the performance of the operation or the production of a product and the standard overhead absorption rate per unit of time for that operation or product.
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Definitions
Standard Variable Overhead Cost
Standard Variable Overhead Cost Standard Cost Absorption Rate Variable Overhead Cost Accounting Operational Efficiency
Standard variable overhead cost refers to a specific type of standard cost derived from the standard time allowed for an operation or product production and the standard variable overhead absorption rate per unit time for that operation or product.
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Definitions
Variable Overhead Expenditure Variance
Variable Overhead Expenditure Variance Standard Costing Overhead Expenditure Variance Variable Overhead Budgeted Costs Incurred Costs Cost Accounting
Variable overhead expenditure variance in standard costing is the difference between the budgeted variable overhead expenses and the actual variable overhead expenses incurred.
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